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Cf  Communication  o 

«W  +  Conf  Pam  #350 


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HOUSE  OF  REPRESENTATIVES,  November  25,  1864.— Laid 

on  the  table  and  ordered  to  be  printed. 

[By  the  Chair. j 


COMMUNICATION  OF  SECRETARY   OF  TREASURY. 

Treasury  Department,  C.  S.  A., 
Richmond,  November  23,  1864. 

Hon.  Thomas  S.  Bocock, 

Speaker  of  tfie  House  of  Representatives : 

Sir  :  The  resolution  passed  by  the  House  of  Representatives,  on  the 
21  St  instant,  calls  for  the  following  information  :  "Whether  the  old  issue 
of  treasury  notes  is  being  exchanged  for  the  new,  and  if  not,  why  ; 
also,  what  arrangements  have  been  made  to  that  end." 

I  have  now  the  honor  to  furnish  thti  information  required. 

The  amount  of  new  issue  paid  out  in  exchange  for  old,  from  1st  of 
April  to  )st  of  October,  is  $121,038,790. 

Since  the  Ist  of  October  the  exchange  of  notes  has  been  continued 
with  activity,  all  the  assistant  treasursrs  and  pay  depositaries,  as 
well  as  many  of  the  transient  depositaries,  being  supplied  with  the 
new  issue  for  that  purpose.  Still  further  to  promote  the  convenience 
of  the  public,  the  following  regulations  have  been  adopted: 

1.  The  Treasurer,  a-ssistant  treasurers,  and  pay  depositaries  have 
been  authorized  to  receive  the  old  issues  (except  the  $100  bills)  in 
payment  of  non-taxable  bonds  at  66  2-3  per  cent. 

2.  They  have  been  authorized  to  receive  them  in  like  manner,  on 
call  at  four  per  cent.,  and  on  hypothecation  of  the  non-taxable  bonds. 

3.  They,  and  all  the  depositaries  appointed  for  funding,  numbering 
in  all  over  two  hundred,  have  been  authorized  to  receive  them,  and 
register  the  names  of  the  depositors,  and  the  sums  deposited,  and, 
after  the  Ist  of  January,  to  forward  copies  of  the  registers  to  Rich- 
mond, when  the  new  issue  will  be  sent  to  pay  the  depositors. 

G.  A.  TRENHOLM, 

Secretary  of  Treasury, 


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